The level of 107.3 still was higher than the 105 average for all of 2013 and three points above the average for 2012.

Robert Dye, chief economist for the Dallas-based bank, thinks it’s a temporary lull in the bank’s index and he remains optimistic about the Texas economy.

“Payroll employment was unchanged” in March, but “we already know that payroll employment in Texas had a strong rebound in April, and that will support the index going forward,” Dye said. In addition, home building permits remain below their 2013 year-end highs, but he expects residential construction indicators will improve as employment picks up and population continues to grow, he said.

Comerica Bank said today that its Texas Economic Activity Index declined in February for the second straight month.

The index decreased 0.4 percentage points to 109.7 after declining 1 percentage point in January. It’s still higher than the average of 105 points for all of 2013, 102 for 2012 and 99.9 for 2011.

Robert Dye, chief economist for the Dallas-based bank, once again attributed the monthly decline to an easing of residential buildings permits since spiking in October. Most other components of the index were positive in February, he said.

Dye’s outlook for the rest of the year remains strong.

“Given the strong population and income growth of key Texas metropolitan areas and overall solid economic performance of the state, I expect home builders to be very active this spring and summer,” he said in a statement. We continue to see signs that the broader U.S. economy is thawing out after a winter freeze, and this will benefit Texas as well.”

Comerica Bank said today that its Texas Economic Activity Index rose in September — for only the second time this year — after declining in August.

The index rose 1.9 percentage points to 104.8, compared with an average of 102 points for all of 2012 and an average of 103.8 for 2011. Comerica revised August’s index downward to 102.9 from 103.4.

“Our Texas index increased in September after essentially flatlining through most of 2013,” said Robert Dye, chief economist for Dallas-based Comerica. The state’s broad-based economy is benefiting from the improving U.S. economy and strong real estate markets across the state, he said.

Comerica Bank said today that its Texas Economic Activity Index grew in July — the first monthly increase since November.

“Gains were broad-based, visible in all seven components of the index, indicating that upward momentum will likely continue in the months ahead,” said Robert Dye, chief economist for Dallas-based Comerica. “The Texas index has been held back by a declining rig count through 2012 and into early 2013, reflecting low natural gas prices, and by declines in building permits relative to a surge in construction activity last winter. High oil prices have kept the rig count stable through the summer.”

July’s level of 104 is two points higher than the average for all of 2012 and 10 points above the average for 2011.

Dye said he expects the Texas economy to show “solid growth” through the end of the year.

Comerica Bank’s Texas Economic Activity Index was flat in June, another sign of stagnant or slowing growth that’s also being seen nationwide.

The index level of 103.7 was the same as in May after that reading was revised upward from 103.6.

“Our Texas Index has been essentially unchanged over the four months from March through June,” said Robert Dye, chief economist for Dallas-based Comerica. “Payroll employment continues to trend upward, and that is good news, but other components of our Texas Index, such as the drilling rig count, have stabilized. Also, we are seeing some volatility in residential construction data, and that has been a negative factor in May and June.”

Still, June’s index level was 1.7 points above the average for all of 2012 and 10 points above the average for 2011.

Texas’ economic activity cooled in March, reflecting “temporary” declines in home building permits and exports, according to a report released today by Dallas-based Comerica Bank.

Comerica’s Texas Economic Activity Index declined 0.9 points to 104.2. The March level still is above the index average of 102 for all of 2012 and 10 points higher than the 2011 average.

Comerica chief economist Robert Dye said the seven components of the index showed mixed results in March. Texas’ residential building permits and exports posted “temporary declines” and hotel occupancy and unemployment insurance claims also weakened. But payrolls, sales tax revenue and the oil and gas drilling rig count were higher.

Dye expects the index to pick up soon — as labor markets continue to improve and housing markets tighten across the state.

Texas’ unemployment rate was 6.4 percent in April, down from 7 percent a year earlier. Last month’s rate was even lower in the Dallas area — 6 percent.

Sales of existing single-family home in North Texas jumped 30 percent in April from a year earlier, according to Texas A&M University’s Real Estate Center and the North Texas Real Estate Information Systems.

The Dallas-area is one of the nation’s fastest moving residential markets, according to Redfin.com. The Seattle-based real estate site said nearly a third of Dallas-area homes sold in April went under contract within two weeks of coming on the market.

Comerica Bank reported today that its Texas Economic Activity Index rose in November for the third straight month, indicating steady growth.

The index was up 0.6 points in November to 100.1 — its highest level since September 2008, said Robert Dye, chief economist at Dallas-based Comerica.

November’s index “shows broad-based acceleration in the state economy, with the exception of drilling activity, which continues to decline due to very low natural gas prices,” Dye said. “All other components of the index were positive contributors for November.”

In Texas and all other states, higher federal taxes and reduced federal spending “will be a drag on the Texas economy in early 2013,” Dye said. “However, we continue to believe that Texas will be a strong performer through 2013.”

The index averaged 98 points for the first 11 months of 2012, eight points above the average for all of 2011. It has risen significantly from its trough in mid-2009, but is still below its peak in early 2007.

Comerica Bank’s Texas Economic Activity Index in October hit its highest level since September 2008 as most areas of the economy improved.

It rose above the 99-point mark for the first time in six months, said Robert Dye, chief economist for the Dallas-based bank.

The index, which was released today, gained 0.6 points to 99.5. It has averaged 98 points so far this year, or eight points above the average for all of 2011.

“The index components highlighted broad-based economic improvement in October, with the exception of rig drilling activity, which declined for the fifth straight month,” Dye said. “Due to continued low natural gas prices, the rig count will likely continue to drift lower over the remainder of the year.”

Most of the index’s seven components improved in August — employment, exports, sales tax revenue, hotel occupancy and homebuilding permits, said Robert Dye, chief economist at Dallas-based Comerica. However, higher unemployment insurance claims and a lower drilling rig count offset those gains, he said.

Dye expects the oil rig count to continue to decline through the rest of this year due to very low natural gas prices.

So far this year, the index has averaged 98 points, eight points above the index average for all of 2011. The index has risen significantly from its nadir in mid-2009, but still below its peak around the start of 2007.

Comerica Bank’s Texas Economic Activity Index rose slightly in July, after dipping the previous month, according to the latest report released this week.

The index rose 0.5 points to 99. It as averaged 97 points so far this year, seven points above the index average for all of 2011.

“Job growth in Texas continues to outpace the national average as housing gains momentum on firming sales and prices,” said Robert Dye, chief economist for the Dallas-based bank. “However, drilling activity has eased recently due to very low natural gas prices, and could continue to weigh on the index going forward.”